Frequently Asked Questions (FAQ) / About Us
What is difficulty?
Difficulty is a measure of how difficult it is to find a hash below a given target.
What is luck?
Mining is probabilistic in nature: if you find a block earlier than you statistically should on average you are lucky if it takes longer, you are unlucky. In a perfect World pool would find a block on 100% luck value. Less then 100% means the pool was lucky. More then 100% means the pool was unlucky.
What is a share?
Share is a possible valid hash for the block. Shares are beings sent by your rigs to the pool to prove their work.
What is a block?
Transaction data is recorded in blocks. New transactions are being processes by miners into new blocks which are added to the end of the blockchain.
How long does it take to find a block?
It depends on amount of active miners. The more miners work on pool → the more hashrate pool has → the more blocks are found by the pool. However the more miners are active → the less reward you get from each block found.
Which payout scheme is used?
Proportional (Share-based): Every time a block is found, its reward is split between miners according to the number of shares they submitted.
How is the current payout estimate calculated?
The estimated payout is a calculated using your percentage of valid shares on the total for current round. This percentage is then applied to the reward of the last block found by the network.
I have been mining on this pool for 1 hour but still have not received any payouts. WTF?
As soon as the block is found you will get your reward. Please wait a little bit more time.
My hashrate is wrong! Why?
Since you start to mine your hashrate grows gradually. Please wait. The pool determines your hashrate based on the amount of shares sent by your mining rigs (workers). This value could be a little bit different from reported hasrate (in your mining software).
Who are we, and what is our story?
Our story isn't too fancy, we are just two college students trying to make our way in an everso chaotic world. We have a lot of knowledge we wish to use to help the community in any way we can. This is why we created a pool. The reason we have a 2% dev fee which we know is a little high compared to other places is becuase we plan to privately host the ravennodes lottery and shop, and as two college students, funding is something we are a little low on. While we may have a raven address up so that donations can be sent, and are welcomed, just your loyalty and perseverance with this project is payment enough to us. This project has a stong community and in as large of numbers as we have, great things are possible. We are some of the people that want to see this happen, and we plan to help in any way we can.
What is a ravennode?
A ravennode is a node device focused around monitoring and processing the innumerous daily transactions that occur on the Ravencoin network blockchain. These are what keep the blockchain strong. However, taking a look at www.ravennodes.com, we can see that there are a minimal amount of nodes compared to the daily transaction activity on the ravencoin blockchain. These nodes store the blockchain data and keep everything running smoothly, hence the more there are, the better the network runs. We need more nodes!
What is the ravennode lottery?
Currently, there is no reward for running a ravennode, however some of us still do as a labor of love; we are some of these people. As comes with the role of the node specialist on the ravencoin reddit, I have had a lot of experience in helping individuals get their nodes setup. Due to this, I realized that more people would be incentivied if there was a shot at a reward for running the node. Ravencoin was built on the idea of no masternodes, however there is no exclusion to friendly contest. A partial reason for the creation of this mining pool, and the 2% dev fee is so that with any blocks that the A&N rig group hits on the pool, we will donate portions of our personal (A&N) block rewards to our secondary site that is in progress revolving around the ravennode lottery proposition. We plan to have everyone that has a full node launched input their EMPTY wallet address into a weekly drawing. It is suggested to run a node with an empty wallet, so all is well unless you have started to fill the wallet, or have not created one yet, as a recieving address will be needed to send out winnings! Rewards amounts are to be finalized, but depending on how well the pool does, quarter to full block rewards, once a week we will draw, live on the discord or elsewhere that is requested. Plan on making a tokenized asset to work as a lottery credit. Also considering a tiered system just in case some people happen to win more than once!
What is the ravennode shop?
Currently, we do a lot of assistance work in the ravencoin reddit and community revolving node work. We hold the title of node specialist on the ravencoin reddit with pride as we have put in the time and leg work to get to that point. That being said, we love to help any time with anyone on any project, especially nodes. However, people have come to us having little to no tech skills, which in our eyes is totally acceptable, we have been there once, and we all start somewhere. This being said, we have also had some of the same users ask us if we sell nodes because they either haven't had the time to learn the specifics of the code, yet still want to help the blockchain. Hence, were are underconstruction on yet another secondary site, the ravennodes shop, where we will be selling custom 3D printed RVN themed pi cases, 256 GB or higher microSD cards with a refurbished, updated, and debuged version of the RavencoinOS, as well as 8GB Raspberry Pi 4B models, with all cables and other accesories and hardware available. This being said, we are also selling package deals that include all of this, pre-assembled, and those extras can be used to replace or build onto your current setup. We also on top of nodes make node clusters, which we will also be posting to the site! We plan to sell these nodes as tokenized assets as well if there is a way to, as to promote more use cases of RVN!
On top of everything else we as devs are doing to make this a great community to be a part of, we are currently working on making some basic games that will be hosted on yet another secondary site (by secondary sites, we mean subsites of crypticwizardry.com), that will give miners something to do while they mine. These games will offer the chance to earn rewards, most likely tokenized assets, which hold RVN value!